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The latest Labour Market Bulletin shows that between February 2013 and March 2014, the number of people claiming jobseeker's allowance in the borough fell by over 3,000.

In February 2013, the borough had 10,142 people looking for work. By March of this year, the number claiming JSA had fallen to 7,085.

The numbers represent a 30% drop over the period.

The number of young people, those aged 18-24, also fell, from 2,390 in February 2013 to 1,520 last month.

The statistic shows that youth unemployment has taken an even greater percentage fall - at 36.5% over the 14 months.

Last month's figures show Croydon, over the previous year, enjoyed the third biggest drop in JSA claimants among the south London boroughs (behind Bexley on 35%, and Sutton on 29%), and seventh of all the capital’s authorities.

Nathan Elvery, the council’s chief executive, said: “These are tremendous numbers for Croydon and show that the council is working hard on behalf of everybody in the borough.

“Nobody can deny that the past few years have been extremely challenging but, as these latest statistics show, the corner has now been turned.

“The combination of the Pathways to Employment initiative and the massive infrastructure work currently going on is providing a huge boost, both to Croydon residents and the local economy.”